U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-10-2010, 12:48 PM
 
38 posts, read 109,798 times
Reputation: 14

Advertisements

Now that the seller's bank have accepted our offer. Can we choose which ever bank or loan broker we want? We have been preapproved by wells fargo but are banking with chase. Which bank is better with mortgage loan? any personal experience? We are talking with wells fargo (also own the property) right now...and haven't talk to chase yet but i look at chase's rate for FHA 30yr fixed and interest is at 5% apr rate at 5.066%. While Wells Fargo is at 5% and APR at 5.715%. I dont really understand APR so can anybody shed some light on it....
Reply With Quote Quick reply to this message

 
Old 03-10-2010, 01:45 PM
 
359 posts, read 953,791 times
Reputation: 252
You may want to post this on the Mortgage forum. Also....don't forget to consider your local credit unions! That's the lender I am using.
Reply With Quote Quick reply to this message
 
Old 03-14-2010, 08:41 PM
 
12 posts, read 57,737 times
Reputation: 17
We did an in-house(formerly WAMU taken over by Chase) refi with Chase in 2009. We submitted all needed paper work within 3 days at the end of April, 2009. They didn't close the loan until Dec. 17th, 2009. Almost 8 months!! They were the most incompetent, dishonest, full of excuses bunch of people I've ever dealt with. They said they were too busy to do it in the 4 to 6 weeks as initially promised. I have since found numerous similar Chase stories online.
Reply With Quote Quick reply to this message
 
Old 03-14-2010, 09:07 PM
 
17 posts, read 24,846 times
Reputation: 25
We started off using a mortgage broker (which I would NOT do again) and before the first payment was due, our mortgage was sold to Chase. We hated Chase. We don't live near any branches, and it was very hard to get to talk with a human when we called customer service.

When my husband was laid off and our payments became overwhelming, I contacted Chase to discuss solutions based on what was recommended on their website. They recommended we apply for rate modification, we waited for 6 weeks or so, and they rejected the application because we were current on our payments. So, if they knew that we could not qualify for rate mod. because we were current on our payments, why did they recommend we apply for it in the first place..... In addition, when they informed us about the new streamline refinancing, they were going to charge us a partially-refundable application fee with no guarantee that we'd be approved. Slimy.

We are now MUCH happier as customers of Wells Fargo...closest branch is about 10 minutes away, they gave us a nice low rate, and the streamline refinancing went very smoothly...suffice to say...we feel much more in control of our finances with them.

Stay away from Chase. Go with Wells Fargo. WF was recommended to me by my brother, who is a mortgage customer in Massachusetts.

Last edited by aprilmayjune; 03-14-2010 at 09:11 PM.. Reason: sorry, remembered that detail after submitting post!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top